The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns over financial misconduct in Nigerian universities, including the diversion of students’ fees and other forms of corruption that weaken the integrity of the education system.
He made this known during a conference in Kano, where he revealed that investigations have uncovered cases of inflated contracts, ghost workers, and mismanagement of students’ funds across several tertiary institutions in the country.
According to him, universities handle significant financial resources, including tuition payments, government allocations, and research grants, yet issues of accountability and transparency remain a major challenge. He stressed that such practices not only result in financial losses but also betray the trust of students, parents, and taxpayers.
He called for stronger financial oversight within universities and urged institutions to embrace technology, including artificial intelligence, to improve auditing, payroll management, procurement processes, and overall financial transparency.
He also emphasized that while technology can support accountability, lasting change depends on the integrity of individuals managing these systems. According to him, no system can be effective without ethical leadership and responsible human decision-making.
He further encouraged collaboration between universities and anti-corruption agencies to strengthen monitoring, improve governance, and promote a culture of accountability in the education sector.
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